Medici political clout grew even more through their financial acumen as bankers. The ascent of the Medici family from poor wool farmers to vast political dynasty began with Giovanni di Bicci de’ Medici. modern holding company. Family, Lorenzo de’ Medici, Lord of Florence and Duke of Urbino, Alessandro de’ Medici, Duke of Florence, Cosimo I de’ Medici, Grand Duke of Tuscany, Francesco I de’ Medici, Grand Duke of Tuscany, Ferdinando I de’ Medici, Grand Duke of Tuscany, Cosimo II de’ Medici, Grand Duke of Tuscany, Ferdinando II de’ Medici, Grand Duke of Tuscany, Anna Maria Luisa de’ Medici, Electress Palatine. Giovanni was the innovator, the entrepreneur. The Medici created a lucrative partnership with another medieval power, the Catholic Church. Some of those artists were Donatello, Michelangelo, and Raphael. The Medici diversified their risk by engaging in the trade of a large number of The Medici family had a long and powerful influence in European history for hundreds of years. Cosimo di Giovanni de' Medici (27 September 1389 – 1 August 1464) was an Italian banker and politician who established the Medici family as effective rulers of Florence during much of the Italian Renaissance.His power derived from his wealth as a banker, and he was a patron of arts, learning and architecture. The Medici family ruled the city of Florence throughout the Renaissance. He also takes away the credit for introducing the Medici Bank in Florence around 1397. Giovanni di Bicci de Medici was the first member of the Medici dynasty to accumulate a great fortune, bringing his family from obscurity to fame.